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Friday, 30 January 2015

Nifty snaps 10-day winning streak; financials drag: Markets have closed the session on a lower note with Nifty breaking ten-day winning streak as investors turned cautious and booked profits at higher levels. Also, lower than expected corporate earnings posted by blue chip companies such as Dr Reddy’s Lab, ICICI Bank and HDFC Bank has also weighed on the bourses. The market breadth indicating the overall health of the market was weak. The Sensex ended lower by 498.8 points at 29182.9 and the Nifty was down 143.4 points at 8808.9. Foreign institutional investors (FPIs) were net buyers in Indian equities worth Rs 1723 crore on Thursday, as per provisional stock exchange data. The Indian rupee is trading lower at 61.93 to the US dollar compared to previous close of 61.86 on the back of month-end dollar demand from importers.

Markets pare early gains; IT shares shine: Benchmark indices have turned marginally weak, amid range bound trading, after paring the early gains which had helped the markets to touch their fresh record highs in today’s session. The Sensex has hit the all-time high of 29,844.16 and Nifty has touched the life-time high of 8,996.60 in today's session.At 9:45 AM, the S&P BSE Sensex was trading at 29600 down 81 points, while NSE Nifty was trading at 8931 down 21 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee has opened at 61.79 per dollar, up 7 paise compared to previous day's closing value of 61.86 a dollar.

Thursday, 29 January 2015

Markets end at record closing highs: Benchmark shares indices ended at record closing highs with the Nifty rallying for the tenth straight day following the expiry of January derivative contracts. However, the broad market depicted weakness. The market breadth indicating the overall health of the market was weak. The Sensex ended higher by 122.5 points at 29681.7 and the Nifty was up 38 points at 8952.30. Foreign institutional investors (FPIs) were net buyers in Indian equities worth Rs 1723 crore on Tuesday, as per provisional stock exchange data. The Indian rupee is trading lower at 61.50 to the US dollar compared to previous close of 61.41 on the back of month-end dollar demand from importers.

Gold extended losses from the previous session on Thursday, as traders reassessed their expectations for the timing of the first US rate hike after the Federal Reserve sounded more upbeat about the economy. Actively traded Gold contract is losing around a percent or 11.60 points to trade at 1274.40 after having tested a low of 1271.20 level whereas Silver futures tested a low of 17.53 before settling at 17.635, plunged over 2.5% or 45 cents an ounce. Base metals are trading lower since morning with Copper trading at 5405.50, down over a percent or 54.50 points and Zinc is worst performing metals among the group, dropped 1.20% or 25.50 points to trade at 2091.00, followed by rest of the metals. WTI Crude Oil is up 26 cents or 0.58% to trade at 44.71 and Natural Gas is trading higher at 2.919, up 2.71% or 8 cents per mmbtu. EIA is set to release their weekly storage report tonight at 9.00PM with analyst forecast of -113 Bcf against the previous week of -216 Bcf.

Nifty opens below 8,900 ahead of F&O expiry; CIL falls 4%: Benchmark indices have opened lower, amid weak global cues, ahead of the expiry of January derivative contracts later today. Asian markets witnessed profit taking after encouraging comments by the US Fed about the growth in the US economy and hawkish stance that it would hike interest rates later this year.

At 9:45 AM, the S&P BSE Sensex was trading at 29433 down 126 points, while NSE Nifty was trading at 8874 down 40 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is negative. The Indian rupee has opened at 61.43 a dollar, down 2 paise compared to previous day's closing value of 61.41 a dollar.

Wednesday, 28 January 2015

Markets end Flat after a volatile session: Volatility ruled the roost as key benchmark gave away a lion's portion of their intraday gains soon after extending gains in early afternoon trade. The broad market depictedweakness. The market breadth indicating the overall health of the market was weak. The Sensex snapped 8 day gains and ended lower by 11.86 points at 29559.1 and the Nifty was up 3.80 points at 8914.30. Foreign institutional investors (FPIs) were net buyers in Indian equities worth Rs 953 crore on Tuesday, as per provisional stock exchange data. The rupee appreciated against the dollar, up 3 paise to 61.37 on dollar.

Precious metals on CMX are trading in a range for the last couple of sessions ahead of the US Federal Reserve fund rates decision and FOMC Meeting minutes. Actively traded Gold contract is losing 4 points or 0.35% to trade at 1287.90 after having tested a low of 1285.60 whereas Silver tested a low of 17.945 before settling at 18.01, down 0.41% or 7 cents an ounce. Copper rose after the biggest drop in almost two weeks as investors await commentary from the Federal Reserve policy meeting. Nickel is leading the group, gaining around 2% or 290 points to trade at 15055.00 and Copper tested a high of 5510.00 before settling at 5492.00, up 58 points or 1%, followed by rest of the metals which are up around a percent each. WTI Crude Oil is trading down since morning as API forecasted that Oil stockpiles could build by 11.2 Mbd, more than the previous data. Oil is plunging around 2% or 85 cents to trade at 45.38 and Natural Gas is trading at 2.899, dropped 2.75% or 8 cents per mmbtu.

Markets trading flat despite weak global cues: The market is lackluster in early trade ahead of outcome of FOMC's two-day meeting (that will end tonight) and expiry of January derivative contracts (on Thursday). Benchmark indices are trading on flat note subdued by profit-booking in capital goods and select financials and auto stocks like L&T, HDFC twins and Tata Motors.

At 9:45 AM, the S&P BSE Sensex was trading at 29530 down 40 points, while NSE Nifty was trading at 8905 down 5 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee fell marginally in early trade today. The currency has opened at 61.50 a dollar, down 11 paise compared to previous day's closing value of 61.39 a dollar.

Tuesday, 27 January 2015

Markets end at record closing highs; financials surge: Benchmark indices continued their record breaking streak for the fifth straight session with the Nifty crossing the 8,900 mark for the first time led by the gains in financials, capital goods and select index heavyweights like ITC. The Sensex ended higher by 292.2 points at 29571 and the Nifty was up 74.4 points at 8910.5. The market breadth indicating the overall health of the market was positive. Foreign institutional investors (FPIs) were net buyers in Indian equities worth Rs 2,020 crore on Friday, as per provisional stock exchange data. The rupee depreciated against the dollar, down 3 paise to 61.45 on dollar.

Gold traded near the lowest level in a week before Federal Reserve policy makers gather and as European finance ministers agreed to work with the new Greek prime minister to keep the country in the euro. Actively traded Gold contract was trading lower and tested a low of 1272 level but later on recovered all of its losses and trading in green at 1281.70, up 2.30 points. Silver is trading down 4 cents or 0.24% to trade at 17.945 after having tested a low of 17.92 an ounce. WTI Crude Oil is trading down at 45.05, down 11 cents after having tested a low of 44.81 while Natural Gas surged over 3% or 9 cents to trade at 2.971 per mmbtu. Base metals were trading lower in the early session but later on recovered some of lost ground and trading mixed as we write this. 3-month Zinc is adding 0.75% or 16 points to 2149.00 while Copper is losing around a percent or 55 points to trade at 5559.00 after having tested a low of 5525.50 per metric ton.

Markets hit fresh record highs ahead of FED meet: Markets opened marginally higher but failed to sustain gains at higher levels amid profit taking in IT shares. The US Federal Reserve will meet for its two-day policymeet, the first in 2015, on Tuesday. Analysts expect it to maintain its earlier stance of remaining 'patient' on increasing the key rates. Globally, equity markets have largely shrugged off the outcome of Greece election. The victor Syriza Party has promised to re-negotiate Greece debts with its international creditors and bring a halt to the austerity measures.

At 9:45 AM, the S&P BSE Sensex was trading at 29390 up 111 points, while NSE Nifty was trading at 8853 up 19 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee opened at 61.50 a dollar, down 8 paise compared to Friday's closing value of 61.42 per dollar.

Friday, 23 January 2015

Markets scale record highs fourth straight day on ECB stimulus move: Benchmark indices ended firm and scaled record highs for fourth straight day led by strong buying among rate-sensitive sectors along with rally in global stocks, after the European Central Bank's higher-than-expected monetary measures to boost the economy in the euro zone. Foreign institutional investors (FPIs) bought shares worth a net Rs 592.79 crore yesterday, as per provisional data. The Sensex ended higher by 272.8 points at 29278.8 and the Nifty was up 74.2 points at 8835.6. The market breadth indicating the overall health of the market was positive. The rupee appreciated against the dollar, up 19 paise to 61.50 on dollar selling by exporters amid sustained capital inflows. Soaring domestic equity markets also supported the rupee.

Markets hit fresh record highs as ECB unveils QE plan: Benchmark indices have opened higher for seventh straight session and hit an all-time record high as sentiment in global markets turned bullish after the European Central Bank announced it will buy bonds worth 60 billion Euros per month to stimulate sagging economy.At 9:45 AM, the S&P BSE Sensex was trading at 29360 up 355 points, while NSE Nifty was trading at 8855 up 94 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee gained in the early trade today. It has opened higher 26 paise at 61.44 per dollar versus 61.70 Thursday.

Thursday, 22 January 2015

Sensex ends at record high above 29,000 ahead of ECB move: Benchmark share indices ended at record closing highs for the third straight session on expectations that the European Central Bank at its meeting later today would announce monetary stimulus measures. Foreign institutional investors were net buyers in equities to the tune of Rs 2,065 crore, as per the provisional stock exchange data. The Sensex ended higher by 117.1 points at 29006 and the Nifty was up 31.9 points at 8761.4. The market breadth indicating the overall health of the market was positive. The Indian rupee trimmed its initial gains and is down at 61.69 against the US currency compared to previous close of 61.63 on mild bouts of dollar demand from importers.

Markets hit fresh record highs; Sensex hits 29,000 mark: Benchmark indices have opened higher, hitting fresh record highs in opening deals tracking gains in their Asian peers. Globally, equity markets have edged higher on speculations that the European Central Bank may launch a bond purchase programme later in the day.At 9:45 AM, the S&P BSE Sensex was trading at 29030 up 141 points, while NSE Nifty was trading at 8762 up 32 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee opened with marginal gains of 4 paise at 61.60 per dollar today versus 61.64 Wednesday.

Tuesday, 20 January 2015

Markets gains fourth straight day; end at record-closing highs: Benchmark indices ended at record-closing high levels after hitting fresh life-time highs during a session which saw a strong rally in index heavyweight stocks like HDFC, ITC, Reliance and ICICI Bank. Upbeat corporate earnings and positive news from Chinese economy pushed the bank and metal stocks higher. The Sensex ended higher by 522.6 points at 28784.6 and the Nifty was up 144.9 points at 8695.6. The market breadth indicating the overall health of the market was positive. The rupee traded flat to marginally lower as the dollar strengthened overseas. The rupee slipped from a two-month high, currently at 61.77 against a close of 61.71 yesterday.

Precious metals on COMEX are gaining sharply for the last couple of hours ahead of the ECB Press conference which will be held on Thursday. Prices also extend their rally due to increase physical demand for this complex. Actively traded Gold contract is surging around 1.25% or 16 points to trade at 1293.00 an ounce while Silver tested a high of 18.04 before settling at 17.98, rose 1.30% or 23 cents an ounce. Base metals are trading mixed since morning with Copper trading at 5683.00, up 13 points or 0.23% whereas Lead is top gaining counter among the group, jump around 1.5% or 27 points to trade at 1877.00, followed by rest of the metals. WTI Crude Oil prices plunged over 3% or 1.57 points to trade at 47.65 and Natural Gas is tumbling around 4.5% or 13 cents to trade at 2.99 after having tested a low of 2.951 per mmbtu.

Market edges higher in early trade: Markets opened marginally higher, tracking firm Asian cues, helped by a rebound in Chinese shares after better-than-expected fourth quarter GDP growth in China. Bank shares were among the top gainers in early trades. At 9:45 AM, the S&P BSE Sensex was trading at 28395 up 133 points, while NSE Nifty was trading at 8595 up 44 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee opened lower by 11 paise at 61.82 per dollar against previous day's closing value of 61.71 a dollar. Meanwhile, The International Monetary Fund (IMF) trimmed its global growth forecast for 2015-16, cautioning that the boost from lower crude oil prices would be offset by dimmer economic prospects for China, Russia, the euro area, Japan and oil producers.

Monday, 19 January 2015

Closing Market Update:Markets gains third straight day; Nifty holds 8550: Markets ended higher for the third straight session on Monday led by Wipro on robust earnings while banks extended gains on hopes that lower interest rates would help revive loan growth. The Sensex ended higher by 140.1 points at 28262 and the Nifty was up 36.9 points at 8550.7. The market breadth indicating the overall health of the market was positive. In the foreign exchange market, the rupee edged higher against the dollar as foreign investors stepped up purchases of the nation's bonds. On global front, in overseas markets, European stocks edged higher as traders bet on more stimulus this week from the European Central Bank (ECB).

Precious metals are trading slightly lower with Gold trading at 1276.00, -0.02% and Silver is at 17.68, down by 0.37% as we write this. The overall outlook is bullish and we expect prices to gain in coming session. On LME, Aluminum is at 1824.50, -0.84% and Copper is at 5721.00, down almost a percent, as we write this. The bias is positive and we can see intraday gains in coming hours. Crude Oil and Natural Gas prices are trading in red with Crude Oil at 48.03 and Natural Gas is down by as much as 3.01, lower by 4.03% as we write this. Bias is negative for energy complex.

Market edges higher in early trade: The market has started the week with a bang. Benchmark indices are trading higher, amid firm global cues, led primarily by the gains in information technology, financials and metal stocks.

At 9:45 AM, the S&P BSE Sensex was trading at 28275 up 153 points, while NSE Nifty was trading at 8554 up 40 points. The Mid-cap and Small-cap Index, both, is outperforming the broader indices. The market breadth indicating the overall health of the market is positive. The Indian rupee continued its upward momentum on Monday as it opened higher by 23 paise at 61.64 per dollar versus 61.87 Friday. Among global markets, Asian stocks were mostly higher. China's stock market, however, plummeted as brokerages' property shares tanked.

Friday, 16 January 2015

Markets end marginally higher; Nifty holds 8500: Markets ended marginally higher on Friday, amid a range bound trading session, as profit taking in Infosys and HDFC capped upside gains. The Sensex ended higher by 46.3 points at 28121.8 and the Nifty was up 19.6 points at 8513.8. The market breadth indicating the overall health of the market was strong. In the foreign exchange market, the rupee strengthened to a fresh one month high of 61.87 level against a close of 62 yesterday. Dollar weakness against Asian currencies supported the rupee. On global front, the European Central Bank (ECB) meets next week amid speculation it will widen an asset-purchase program on increased concern over the possibility of deflation in the region.

Gold traded near a four-month high, set for a second weekly gain, on haven demand after Switzerland’s unexpected currency move. Assets in the largest exchange-traded product expanded the most since 2011. Actively traded Gold contract is trading in red at 1259.40, down 5.30 points or half a percent after having tested a low of 1255.20 while Silver tested a low of 16.89 before settling at 16.94, losing around a percent or 16 cents an ounce. Base metals are trading higher since morning with Copper trading at 5690.25, up 36.75 points or 0.58% while Nickel and Lead are leading the group, both are gaining 1.30% each to trade at 14636.00 and 1791.25 respectively. WTI Crude Oil is gaining over 2.5% or 1.15 points to trade at 47.41 while Natural gas is trading at 3.07, dropped around 2.5% or 9 cents per mmbtu.

Market edges lower in early trade: Markets opened with marginal losses weighed down by profit taking in select financials after sharp gains on Thursday following the rate cut by the RBI and IT major TCS post its third quarter earnings. At 9:45 AM, the S&P BSE Sensex was trading at 28043 down 32 points, while NSE Nifty was trading at 8485 down 9 points. However, the Mid-cap and Small-cap Index, both, is outperforming the broader indices. The Sensex regained psychological 28,000 levels after falling briefly below that mark. The market breadth indicating the overall health of the market was positive. The Indian rupee opened flat at 62.08 per dollar against previous close of 62.06. The euro hovered above 11-year low as investors bet the Swiss move to abandon its currency cap meant it was almost certain the European Central Bank would launch large-scale bond buying next week. Overnight, US markets closed lower for the fifth straight session on concerns over global economic growth while weak US retail sales data also weighed on the markets.

Thursday, 15 January 2015

Markets hit highest level in more than 5 weeks on surprise 25 bps rate cut by RBI:Benchmark share indices surged over 2% on Thursday led by financials after the RBI in a surprise move before market hours today cut the repo rate by 25 basis points. The Sensex ended higher by 729 points at 28075.55 and the Nifty was up 216.6 points at 8494.15. The market breadth indicating the overall health of the market was strong. In the foreign exchange market, the rupee touched two month high against the dollar. In overseas markets, European stocks rose as investors weighed company earnings results.Trading in US index futures indicated that the Dow could gain 128 points at the opening bell today.

RBI cuts Repo Rate; Joy in the market: Benchmark share indices surged over 1.5% in opening trade led by financials after the Reserve Bank of India in a surprise move cut the repo rate by 25 basis points. The move, which had been widely anticipated by economists, comes after WPI inflation for December came in at 0.11%, marginally higher than the flat inflation logged in November.At 9:45 AM, the S&P BSE Sensex was trading at 27805 up 458 points, while NSE Nifty was trading at 8415 up 138 points. However, the Mid-cap and Small-cap Index, both, is underperforming the broader indices. The market breadth indicating the overall health of the market is strong. The Indian rupee has gained further ground. It has opened higher by 43 paise at 61.75 per dollar versus 62.18. US markets saw a decline for the fourth straight day as December retail sales failed to meet expectations. The US 10-year treasury yield fell 6 basis points to 1.84 percent.

ON CMX, Precious metals were trading lower since morning but later on recovered all of their losses and trading in green as we write this. Actively traded Gold contract is trading at 1239.00, up 4.20 points or 0.40% after having tested a low of 1226.10 while Silver tested a low of 16.71 before settling in positive at 17.02, up 3 cents an ounce. Base metals bounced from the more than five years low as credit growth surged in China and the group led by Copper which tested a high of 5699.00 before settling at 5641.00, jumped around 2.5% or 128.75 points. Nickel rose around 2% or 270 points to trade at 14560.00 after having tested a high of 14700.00, followed by rest of the metals which are gaining more or less a percent each. Natural gas extended its gains after the biggest surge in 11 months as a blast of Arctic weather predicted to swoop into the US signaled increased demand after a mild December. Actively traded Natural Gas contract is gaining 2% or 6 cents to trade at 3.292 after having tested a high of 3.312 while Crude Oil fell 1.88% or 88 cents to trade at 47.60 after having tested a low of 47.16 per barrel.